So.....it appears the whole risk, compliance, and money laundering team leaders have left, the CFO has left, and the Accountants say that the banks IT systems cant count revenues...... Or.... if the systems can count, the Accountants cant verify the banks count... it seems that $477M, out of the reported $1Bn of revenue claimed in 2022 may not be there? I have to admit this is a very cursory review of the facts.. There may yet be 'triples all round at revolut' ? or tears before bedtime? Time will tell....and they are now big enough to pull through!
11 May 2023 17:40 Read comment
I wonder how much good the teams at 1. Scammer payback, 2. Kitboga, 3. Nanobaiter, 4.Jim Browning, and 5. Wefightfraud.org many of these are building strong and entertaining presence on Youtube.... this is one way that Social Media is able to help in the fight against fraud. These channels should be publicised, they are self funding in many cases, using the social media platforms that can be part of the problem. A relatively small amount of advertising spend or the placement of entertaining Infomercials in the spaces scammers work (Dating/Tech-Refund scams etc) will pay huge dividends... and can highlight real world fraud methodologies in a simple to understand format.... hopefully NOT triples all-round for Scammers this year!
11 May 2023 10:15 Read comment
An account that had £60k deposited out of the blue should have had a delay/cooling off period to lock the funds - especially if the account did not have a normal trading pattern attached to it.... Your, or My current accounts, business accounts etc will all have a logical pattern of behaviour... this IS a legitimate use for AI to be put to - policing non-typical bank account behaviour
10 May 2023 17:02 Read comment
There certainly needs to be a redistribution of wealth and most of these large fintechs are the source of much of the fraud. The UK is lagging Europe in tackling Fraud - I attend these talking shops that are organised and listen to a lot of Jaw Jaw..... but there is no War War on Fraud.... The guys at www.Wefightfraud.org they could do with some serious funding when this fraud tax IS eventually levied.... Why dont we all write to our MP's on this???
09 May 2023 10:29 Read comment
Sounds like a very well run business that is able to admit its mistakes and capitalise on its successes! Oddly i had never heard of them until now... i will research... Triples all round at Padddddle !
25 Apr 2023 09:55 Read comment
Maybe I missed something but in my 30 years in this industry as a priveledged white male, I have worked for many women. In the early 90's we had a Trans colleague working with us very happily at First Data. I have worked with colleagues from across the world, many of these remain firm friends to this day. The fintech industry embraced India for outsourcing, the card schemes worked in every country and banks used nationls in payments.... those nationals have migrated through the industry... Maybe British banking needs more inclusivity....I have been working in an inclusive industry for a very long time now! Can more be done? yes - do we need to call it out? I am not so sure!
18 Apr 2023 17:41 Read comment
Slick approach.... hope uptake follows,,,,, these need to be sticky in the minds of the businesses making the one-off payment and need to be easily understood by the recipients - Good UX/CX will be vital. The beneficiary needs to trust the message before entering their data.... I am sure the good folks at Lloyds have thought through all of this! Good luck! If it works it will be triples all round!!!!!
18 Apr 2023 07:36 Read comment
Tragic. what a waste of two lives
17 Apr 2023 13:41 Read comment
IF TRUE.... they have been VERY naughty. Manipulating refund and chargeback rates does not target consumers.... it targets the schemes themselves. Wonder what sanctions may ensue.
14 Apr 2023 12:35 Read comment
Gaming and Adult is always high risk - but investors didnt understand that - Regulators did and looked the other way - even though the stench rising from the WC business must have been overpowering
06 Apr 2023 12:03 Read comment
Kanv PanditGeneral Manager, Payments Solutions, Asia at FIS
Andrew HewittDirector Payment & Data Solutions at FIS
Austin Puthur JamesEnterprise Solution Consultant at FIS
David WoodroffeSVP, Asset and Auto Finance at FIS
David RatnageCommercial Lending Director, Capital Markets at FIS
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